FAQ for New and Prospective Float Customers – Float Help Centre

If you don’t have a business domain and the registration form blocks your email, reach out to support@floatfinancial.com and we’ll help you get started.

Can I register for Float as a sole proprietor?

Yes, any business type can apply if:

You’re legally registered in Canada or the USA (federally or provincially)
You complete KYB verification and are approved

More details: KYB Verification for Float Customers

Is there a minimum monthly spend?

No, there's no minimum spend required to register or use Float.

But the more you spend, the more you earn! All Float customers are eligible for a cashback reward based on their monthly card spend. Cashback is automatically calculated and credited to your account each month.

Learn more: Float Cashback FAQ

Do I need to maintain a minimum monthly balance?

No, there’s no minimum balance required to keep your Float account active.

However, if you do keep funds in Float, you can earn a yield on your unused cash. Float’s high-yield account option calculates interest daily and pays it monthly with no lock-in period required.

More info: Earning Interest with Float Yield

Can I use Float month-to-month or is a contract required?

Float is flexible — there’s no contract required.

Float Essentials is free, and Float Professional is billed month-to-month. You can upgrade, downgrade, or cancel anytime based on your business's needs.

See: Pricing and Plans FAQ

Can I register my business if it is a non-profit?

Yes, non-profits can apply as long as:

You're a registered Canadian or US legal entity
You complete the KYB verification process and receive approval

Since non-profits typically don't have shareholders, you can complete that section of the KYB form by instead using the information of the following members of your organization:

President
Chairman of the Board
Head of Finance
Treasurer

The KYB review might require extra documentation to verify legal structure, incorporation type, and proof of active registration. We recommend having your incorporation certificate and government-issued proof of non-profit status ready when you apply.

Details here: KYB FAQ

Does my business need to be a certain age in order to use Float?

No, we accept new and early-stage businesses, as long as you're legally registered and pass KYB verification.

Can businesses incorporated outside of Canada or the USA use Float?

Not at this time. Float is only available to businesses registered in Canada or the USA.

What happens after I sign up?

You’ll go through business verification (KYB). Once approved, you can:

Learn more: Setting Up Your Business’s Float Account

How long does business verification take?

Most verifications are completed within 1–3 business days once documents are submitted, but complex verifications can sometimes take longer. Our business approvals team will reach out to you via email during the process if additional requirements arise.

Speed things up with these tips: KYB FAQ

How long does user verification take?

Most users are verified within minutes. If a manual review is needed, it can take up to 1 business day. Our approvals team will reach out via email if additional requirements arise.

If a user hasn’t completed their verification, an administrator can send them a reminder by going to the Users page, finding the user, and clicking "Email KYC Reminder."

More details: User Verification (KYC) FAQ

Do users need to complete KYC if they’re only using Reimbursements?

Yes, all users who receive Reimbursements through Float must complete KYC verification, even if they won’t be issued a Float card.

This identity check is required because users are receiving funds through the platform. The process is handled securely through our partner, Persona, and usually takes just a few minutes.

More info: User Verification (KYC) FAQ

How do I get cards after signing up?

Once your business is verified:

Log into Float and go to the "Cards" tab
Click "Create Card" and choose virtual or physical
Assign the card to a user and add a limit (cards can only be used if a limit is set)

Guides:

Is Float similar to a bank?

Float isn’t a bank. We’re a financial platform that works with licensed banks and issuers to provide:

CAD Visa and USD Mastercard corporate cards
Expense and approval workflows
Bill payments and reimbursements
High-yield cash accounts

Platform overview: floatfinancial.com/platform

Can I talk to someone to decide if Float is right for me?

Absolutely. You can book a call or demo at floatfinancial.com/demo and we’ll help you assess fit.

Can I use Float to accept payments from clients?

No, Float doesn’t support customer payments — we’re not a payment processor.

Can I use Float to send invoices to clients?

No, Float doesn’t support outbound invoicing. We focus on spend, payables, and expense management, not receivables.

How can Float help me as a business owner?

Float helps you:

Gain visibility over company spend in real-time
Set budgets, rules, and approval workflows
Simplify receipt collection and expense coding
Speed up month-end close with integrations
Earn interest on unused cash with our high-yield accounts

Learn more: Save with Float

What documents do I need for KYB verification?

You’ll typically need to upload:

Articles of Incorporation or proof of business registration
IDs for beneficial owners and authorized signers
Proof of address and banking details

Document requirements vary slightly based on your business type. Full list here: KYB Verification Guide

Can I use Float if I already use another expense platform?

Yes. Many customers switch from other tools like Expensify, Concur, or traditional bank cards. Our platform often replaces multiple tools and integrates with your accounting system to simplify workflows

What are the fees and pricing plans?

Float has a free plan and paid tiers for more advanced features and higher usage volumes. All plans include corporate cards, approval workflows, accounting integrations, and support.

Details: Pricing and Plans FAQ

Can I manage multiple businesses in Float?

Yes, you can set up multiple legal entities under your profile and manage each one independently. Each business needs to go through KYB verification separately

More here: Registering Multiple Business Accounts

Can I control what my team sees or does in Float?

Yes, you can assign user roles and permissions like:

Administrator
Bookkeeper
Manager
Spender
AP Clerk

Each role has different access levels. You can also limit spend amounts, control approval flows, and restrict access to specific functions

How do I sign up for Float?

Can I request a demo?

Can I sign up with a Gmail address?